Fall Out Boy's Pete Wentz plans to host a fund-raiser for the Democratic presidential hopeful on Tuesday in Chicago, the singer's hometown.

"I used to be so disillusioned about politics, but with the current state of the world, I could not sit back any longer," Wentz told PEOPLE. "Obama's voice speaks to me and my generation. For the first time in ages, I'm excited for the political process that hopefully will bring about much needed change."

Tickets to the event, which will feature guest speaker Sara Feigenholtz, the Illinois 12th District State Representative, are $75 each.

Wentz is among many stars showing support for candidates of both parties, including Chuck Norris, who is stumping for Mike Huckabee and James Denton, who supports John Edwards. – Nicholas White and Cara Shultz